(SeaPRwire) –
By: TechVanguard
Two Satoshi-era Bitcoin wallets just moved funds after nearly 15 years of silence. This happened right as a New York lawsuit tries to claim 3.8 million Bitcoin (worth $293 billion) as lost property. The timing isn’t a coincidence—it’s a wake-up call for anyone eyeing dormant crypto.
A pseudonymous plaintiff called Noah Doe filed the suit on March 11. He and two Wyoming LLCs rely on New York’s Article 7-B (lost property law). They say 39,069 dormant addresses qualify as lost. Doe handed USBs with wallet details to NYPD’s 17th Precinct between December 2024 and April 2025. He also sent OP_RETURN messages to those addresses, giving a 90-day claim deadline.
One of the addresses in the suit is 1LwWtSs7tMCwcRczQd5kVMv3xpWw6w4Sxe. It got 35.55 Bitcoin in March 2011 (when BTC was under $1). On June 2, it moved 15 BTC and kept 20.55. Another address—18sLgPeB9wQVrE8JoWqtKtnucbsx3Lw1m7—moved all 47.25 BTC it held since June 2011 on June7. Galaxy Research flagged both transfers.
On May29, attorney Ian R. Cohen filed an amicus brief. He said Article7-B only applies to tangible property. Blockchain data can’t be physically deposited with police, he argued. Abandonment needs intentional giving up, not just sitting idle for years.
Judge Kathy King halted default proceedings on June5. She set a July14 hearing date. The moving coins show that dormant doesn’t mean unowned. Holders are still around, even if they’ve been quiet for a decade and a half.
This case will either rewrite how we treat dormant crypto or fizzle out—but the awakened coins have already spoken.
Author bio: TechVanguard, a tech opinion leader with millions of followers on X/Twitter, specializing in crypto and blockchain industry insights.